Bureau of Business Research
Date of this Version
1-6-2023
Document Type
Article
Citation
Copyright 2021 Eric Thompson, UNL Bureau of Business Research
Abstract
The LEI-N fell by 0.16% in November 2022. The leading indicator, which is designed to predict economic growth six months in the future, has fallen in four of the last six months. Such a decline implies that the Nebraska economy will stagnate during the first half of 2023. Two components of the leading indicator worsened significantly during November. There was an increase in initial claims for unemployment insurance, signaling softening in the Nebraska labor market. There was also a drop in manufacturing hours worked during the month. It will be important to monitor whether these two trends continue since a decline in manufacturing activity and an increase in unemployment claims are often key characteristics of a recession.
Comments
Prepared by the UNL College of Business, Bureau of Business Research